External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

Leading full-service brokerage firm in Vietnam. 

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External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>For 2Q25, People &amp; Technology (PNT) posted revenue of W113.4bn (-55.7% YoY) and operating profit of W22.6bn (-13.7% YoY; OP margin of 19.9%).</li><li>While revenue contracted YoY, profitability rebounded on the recognition of high-margin, large-scale projects and reduced SG&amp;A expenses.</li><li>Even accounting for one-off positives, we believe the high OP margin underscores PNT’s competitive edge in customized equipment (despite the broader industry downturn). </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

For 2Q25, People &amp; Technology (PNT) posted revenue of W113.4bn (-55.7% YoY) and operating profit of W22.6bn (-13.7% YoY; OP margin of 19.9%).While revenue contracted YoY, profitability rebounded on the recognition of high-margin, large-scale projects and reduced SG&amp;A expenses.Even accounting for one-off positives, we believe the high OP margin underscores PNT’s competitive edge in customized equipment (despite the broader industry downturn). Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

People & Technology (137400 KQ/Buy)New Businesses Gain Momentum